Article 5NEMR Pressure increases on Rishi Sunak to suspend triple lock on pensions

Pressure increases on Rishi Sunak to suspend triple lock on pensions

by
Phillip Inman
from on (#5NEMR)

Claim that wages element of formula is distorted by pandemic backed by latest figures, which would mean rise of over 8%

Rishi Sunak has come under further pressure to suspend the state pension triple lock after wage figures showed that the chancellor is on course to pay pensioners a rise of more than 8% next year.

Sunak is understood to be considering telling Britain's 12 million state pension claimants that the pandemic has artificially inflated the official wages figures and a new formula is needed to calculate the rise in the basic state pension for next year.

Related: Ending pension lock is a start, but there's no easy fix to the yawning generation gap

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